PNC Financial Services Group Inc (PNC) Stake Decreased by State of Wisconsin Investment Board

State of Wisconsin Investment Board lessened its position in shares of PNC Financial Services Group Inc (NYSE:PNC) by 8.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 803,586 shares of the financial services provider’s stock after selling 75,380 shares during the period. State of Wisconsin Investment Board owned approximately 0.17% of PNC Financial Services Group worth $115,949,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently modified their holdings of the company. Ameriprise Financial Inc. increased its position in PNC Financial Services Group by 21.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,762,394 shares of the financial services provider’s stock worth $507,045,000 after purchasing an additional 657,161 shares in the last quarter. Legal & General Group Plc increased its position in PNC Financial Services Group by 1.8% during the 3rd quarter. Legal & General Group Plc now owns 2,536,357 shares of the financial services provider’s stock worth $341,835,000 after purchasing an additional 44,916 shares in the last quarter. Jennison Associates LLC increased its position in PNC Financial Services Group by 12.7% during the 4th quarter. Jennison Associates LLC now owns 2,107,272 shares of the financial services provider’s stock worth $304,058,000 after purchasing an additional 237,501 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in PNC Financial Services Group by 11.5% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 1,878,104 shares of the financial services provider’s stock worth $270,992,000 after purchasing an additional 193,195 shares in the last quarter. Finally, Bank of Montreal Can increased its position in PNC Financial Services Group by 8.1% during the 4th quarter. Bank of Montreal Can now owns 1,681,159 shares of the financial services provider’s stock worth $242,575,000 after purchasing an additional 126,061 shares in the last quarter. 81.98% of the stock is owned by institutional investors.

In other news, insider Wyk Steven C. Van sold 5,000 shares of the stock in a transaction on Friday, December 1st. The shares were sold at an average price of $140.98, for a total transaction of $704,900.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider E William Parsley III sold 46,307 shares of the stock in a transaction on Friday, December 8th. The stock was sold at an average price of $143.43, for a total transaction of $6,641,813.01. Following the sale, the insider now owns 132,544 shares of the company’s stock, valued at $19,010,785.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 103,894 shares of company stock valued at $14,897,513. 0.43% of the stock is currently owned by corporate insiders.

Shares of PNC Financial Services Group Inc (NYSE:PNC) opened at $158.96 on Thursday. PNC Financial Services Group Inc has a 12-month low of $115.25 and a 12-month high of $160.07. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.93 and a current ratio of 0.94. The firm has a market cap of $72,506.16, a price-to-earnings ratio of 15.22, a PEG ratio of 1.44 and a beta of 0.93.

PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Friday, January 12th. The financial services provider reported $2.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.20 by $0.09. PNC Financial Services Group had a net margin of 29.60% and a return on equity of 9.52%. The company had revenue of $4.26 billion during the quarter, compared to analysts’ expectations of $4.15 billion. During the same period in the prior year, the company posted $1.97 earnings per share. PNC Financial Services Group’s revenue for the quarter was up 10.0% compared to the same quarter last year. research analysts anticipate that PNC Financial Services Group Inc will post 10.38 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 5th. Stockholders of record on Wednesday, January 17th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend was Tuesday, January 16th. PNC Financial Services Group’s dividend payout ratio (DPR) is presently 28.85%.

A number of equities analysts recently issued reports on the stock. Nomura upped their price objective on shares of PNC Financial Services Group from $132.00 to $135.00 and gave the stock a “neutral” rating in a research report on Monday, October 23rd. BMO Capital Markets reiterated a “buy” rating on shares of PNC Financial Services Group in a research report on Thursday, January 25th. ValuEngine cut shares of PNC Financial Services Group from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. Wells Fargo & Co set a $157.00 price objective on shares of PNC Financial Services Group and gave the stock a “hold” rating in a research report on Tuesday, January 16th. Finally, Royal Bank of Canada upped their price objective on shares of PNC Financial Services Group to $170.00 and gave the stock an “average” rating in a research report on Friday, January 12th. Eighteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. PNC Financial Services Group presently has a consensus rating of “Hold” and a consensus price target of $145.98.

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About PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company. The Company has businesses engaged in retail banking, including residential mortgage, corporate and institutional banking and asset management. The Company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock.

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Institutional Ownership by Quarter for PNC Financial Services Group (NYSE:PNC)

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